The following debt ratings have been affirmed:Platinum Underwriters Finance, Inc.—(guaranteed by Platinum Underwriters Holdings, Ltd.) -- “bbb” on $250 million 7.50% senior unsecured notes, due 2017 The following indicative ratings available under the shelf registration have been affirmed: Platinum Underwriters Holdings, Ltd.— -- “bbb” on senior unsecured debt -- “bbb-” on subordinated debt -- “bb+” on preferred stock The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Key criteria utilized include: “Risk Management and the Rating Process for Insurance Companies”; “Understanding BCAR for Property/Casualty Insurers”; “Understanding Universal BCAR”; “Catastrophe Analysis in A.M. Best Ratings”; “Rating Members of Insurance Groups”; and “A.M. Best’s Ratings & the Treatment of Debt.” Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology. Founded in 1899, A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com. Copyright © 2012 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.